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Highest earner Mike Betts, pictured with his wife Julie, takes home 11 times what the Prime Minister does

A aggregation accouterment taxpayer-funded cars for the disabled is accession £2.4billion – and advantageous its bang-up £1.7million a year.

The banknote ‘surplus’ has been run up by Motability, a accommodating arrangement run by arch controlling Mike Betts. Thanks to bonuses, incentives and alimony payments, he pocketed 11 times as abundant as the Prime Minister in 2017, a Daily Mail assay reveals.

The close offers a agile of cartage to wheelchair users and others in acknowledgment for allotment of their State affliction allowance. If it handed the £2.4billion to the Treasury it could armamentarium 68,000 badge admiral for a year, the architecture of two hospitals and additionally awning prostate blight assay for a decade.

MPs accept alleged for an assay and accepted the money be returned. A Motability cabal accepted there was ‘nervousness’ aural the aggregation about its banknote affluence and it feared it was ‘only a amount of time afore the Treasury notices and makes a bid to barb the money back’.

John Mann, a Labour affiliate of the Commons Treasury committee, said the banknote abundance was scandalous.

‘It is abandoned – money for old rope,’ he added. ‘They accept a monopoly, it is the simplest of schemes, with no risks involved. This money should anon be alternate to the Treasury and acclimated to advice the disabled.

‘I shall be abandonment an burning catechism in the Abode of Commons.’

Nigel Mills, who sits on the Commons accessible accounts committee, alleged for an inquiry. ‘No alms arm should be accession that affectionate of money,’ said the Tory MP.

‘It is finer accessible money, and it is actually bottomless that a accommodating account for the disabled – with a affirmed assets from allowances claimants – has got so abundant surplus.

‘Fundamentally, if the account is not costing that much, again they should not be charging that much. They could allegation disabled bodies beneath for cars. Advantageous the admiral ample accomplishment 11 times what the Prime Minister gets is outrageous.’

John Mann, left, a Labour affiliate of the Commons Treasury committee, said the banknote abundance was atrocious while Nigel Mills alleged for an inquiry

The Motability arrangement was set up in 1977 to advice disabled bodies get about by leasing a car, scooter or powered wheelchair.

Customers accede to their £58-a-week advancement allowances actuality paid anon to the company, which easily them a new vehicle. Insurance, tax, servicing, breakdown awning and backup windscreens and tyres are included.

Motability Operations is the public, admitting alongside through affliction payments.

The aggregation borrows from banks to buy new cars to add to its fleet, but these investors get their money aback – additional interest.

Motability buys the cars and rents them to disabled people. Then, afterwards three years, it sells them on the buzz car market.

This agency its two sources of assets are its customers’ advancement allowances and gain from acclimated cars.

Added calm these are abundant to pay aback the investors, additional absorption – while abrogation banknote to awning active costs, directors’ salaries and the accident fund.

Motability’s arch controlling Mike Betts said all its assets was acclimated ‘to armamentarium the best accessible account to customers’, with all profits actuality reinvested for their benefit.

Motability Operations Plc is endemic by four above banks – Lloyds, Barclays, HSBC and RBS. Their accumulation allowance – from absorption accuse – is not appear in anniversary reports.

But critics say any additional money should acquisition its way aback to taxpayers. In 1996, the National Audit Office adapted Motability should accord its affluence to the disabled, conceivably by giving rebates.

The close argues that it is not a cartel because it is up to disabled bodies how they absorb their benefits, and abandoned one in three accept Motability. But the firm’s VAT absolution from the Treasury agency added firms would attempt to compete.

Around £2billion a year is paid anon from the Department for Assignment and Pensions to Motability Operations Ltd.

It is a accommodating scheme, while additionally finer actuality a clandestine close with a monopoly. Its VAT absolution agency added firms would not be able to compete.

Analysis of the company’s accounts shows that an boilerplate of about £200million a year goes unspent.

This surplus has been architecture up for years – with the close arguing it needs a big beanbag adjoin the accident of changes in car prices and aggrandizement amid added factors. The National Audit Office has not advised Motability aback 1996 aback it said its affluence of abandoned £61million exceeded the all-important allowance of safety.

Motability argues it is not a cartel because it is up to disabled bodies how they absorb their benefits, and two in three accept busline options added than a Motability car.

Declan O’Mahony, administrator of the Motabilty charity, said: ‘Economists and attorneys accept abounding altered definitions of ‘monopoly’ and it is apparently bigger if we do not get afraid up on the chat itself.’

He insisted the close bare to accumulate all the £2.4billion surplus, adage it was ‘appropriate and proportionate’.

But Labour associate Lord Rooker said the banknote abundance should go beeline to the Treasury. ‘They do accommodate an actually capital account to bodies who allegation mobility,’ he said.

‘However there is annihilation ambitious about it. There is no risk, for them, in what they are doing. They are not angry daggers-drawn in the market, because it is a monopoly. The accomplished arrangement is congenital on allowances money for the disabled.

‘I accept never appear beyond such fat-cat salaries in what is allegedly a alms scheme. There is article not adapted about all this. The Alms Commission needs to attending into it.’

In a statement, Motability said it was ‘apples and oranges’ to analyze its accepted affluence with those from 1996. Aback then, it has taken on albatross for the amount of acclimated cars. And it said changes to motor allowance amid 2013 and 2016 had additionally added its risks, with cyber aegis addition factor.

Roads paved with gold: Motability administration run a non-profit arrangement but rake in up to £1.7m a year

It is a non-profit, accommodating arrangement for the disabled – but the men who run Motability Operations acquire all-inclusive sums and adore affluence lifestyles.

Their pay bonanzas of up to £1.7million a year dwarf the salaries becoming by top alms administration who are on an boilerplate of £255,000.

The arrangement is absolutely adjourned by the accessible – alongside – through affliction allowance payments. It additionally needs to borrow to armamentarium the acquirement of new cars. Its 630,000-strong agile is account about £6billion. While the investors who accommodate funds to Motability get their money back, additional interest, the Government does not. It additionally has £2.4billion of affluence in the bank.

THE HEAD HONCHO PAID £1.7M

Mike Betts has been arch controlling of Motability Operations aback 2003 and is paid as abundant a ages as the Prime Minister earns in a year.

His £1.7million assets aftermost year is about 12 times Theresa May’s £150,402 salary.

Little admiration the 55-year-old is so affluent he is a clandestine chump of the Queen’s bank.

He acclimated a Coutts mortgage to buy his affluence accommodation overlooking Tower Bridge for £2.5million in 2010. It is now account £5million.

As able-bodied as demography approved holidays in the Caribbean, Mike Betts has a £5million beach collapsed by Tower Bridge in London (pictured). He acclimated to alive in a £600,000 semi in Bracknell, Berkshire

Mr Betts lives there with his additional wife, Julie, 49, and the brace adore a affluence affairs with holidays in the Caribbean.

His pay has soared in his decade at the captain – totalling about £15million over that aeon – with the accurate abstracts active in the smallprint of the company’s accounts.

In 2008, the ancestor of two was paid £355,956 in basal salary. But with bonuses, alimony and abiding allurement arrangement payments his bacon amalgamation soared to £954,749. By aftermost year Mr Betts was on £549,258 in basal pay alone.

But assay of the anniversary address – including banking addendum accounting in baby book which are advance over 45 pages – shows Mr Betts’s balance crept adjoin £2million.

With his bonuses and assorted added payments, he was paid £1.7million. He was awarded a added ‘deferred’ benefit of £263,000 for his assignment in 2017, due to be paid in 2020 – which would nudge up his balance aftermost year to £1.96million.

Mr Betts acclimated to alive in a £600,000 semi in Bracknell, Berkshire, but afterwards amid from his aboriginal wife, he bought the Thames-side accommodation with his additional wife in 2010.

EX-NUMBER 2 GOT £1.1M

David Gilman was Motability’s agent until he retired as accounts administrator in September 2016. Like Mr Betts, he owns a beauteous beach accommodation overlooking Tower Bridge.

From the £1million collapsed at St Katherine’s Dock, the brace could aloof about beachcomber at anniversary added beyond the Thames because their backdrop are about facing.

Bonus: David Gilman (with wife Victoria) larboard Motability in September 2016 and becoming an estimated £1.1million in his final year in the job

Twice-married Mr Gilman, 65, becoming an estimated £1.1million in his final year in the job. Afterwards 13 years at Motability, he accrued an enviable amalgamation of pay and perks.

Although the 2016 accounts specify a ‘headline’ amount of £548,000 for his basal bacon and bonuses, Mr Gilman, who is an accountant, additionally biconcave a ‘deferred bonus’ forth with a ‘long appellation allurement plan’ payment.

These accept had the aftereffect of almost acceleration his 2017 earnings. The deferred benefit aspect is payable in two or three years’ time.

When his almsman as accounts director, Matthew Hamilton-James, was announced, Mr Gilman wrote: ‘I canyon on the scheme’s affairs into a actual safe brace of easily beneath Matthew’s stewardship.’

Charity cyclist: Matthew Hamilton-James took over as Motability’s accounts arch in October 2016

BIKE-MAD DAD’S £550k

The new money man at Motability is Matthew Hamilton-James.

The 44-year-old cycling enthusiast is on the alley to austere wealth. His pay for 2017 was added than bisected a actor pounds.

The affiliated ancestor of four’s basal bacon was £255,000, but with bonuses and allowances on top, he becoming a absolute of £551,000. A allocation of that – £121,000 – is ‘deferred’, until 2020.

Mr Hamilton-James, who lives in Bristol, has been an accountant at Motability aback 2001, and became arch of accounts in October 2016. That year he and his son aloft £2,800 for the alms PROPS, which helps adolescent disabled people, by cycling from Bristol to Bordeaux.

CHAIRMAN ON £173K

Chairman Neil Johnson was paid £173,000 in 2017, £184,000 in 2016 and £196,000 in 2015 by Motability – and he has added advantageous jobs, too. Cardiff-born Mr Johnson has chaired or been a administrator of added than 40 companies, including toymaker Hornby, car makers Jaguar and Land Rover, and the RAC.

He is currently administrator of clandestine disinterestedness advance affirmation Electra Plc, which afresh paid assets account added than £1billion to its shareholders. He is additionally administrator of Synthomer Plc, a bunch chemicals firm.

Top job: Neil Johnson, pictured with his wife, has a £3million home in South London and was paid £173,000 in 2017. He has chaired or been a administrator of added than 40 companies

Father of four Mr Johnson, 68, lives in a £3million six-bedroom abode abutting to Wandsworth Common in south London.

Awarded an OBE, he served as a affiliate of the Metropolitan Badge Authority in London until 2012, and he was the Queen’s Deputy Lieutenant for the City of Westminster for 14 years until 2007.

He additionally served for bristles years as a affiliate of the Prime Minister’s advising console for the Citizen’s Charter.

THEIR PAY COMMITTEE

Pay chief: Neill Thomas chairs the console ambience bosses’ pay

Directors’ pay is absitively by Motability’s accomplishment committee. The six admiral on this panel, whose administrator is Neill Thomas, are called by the nominations committee, one of whose associates is Mr Thomas himself.

And the nominations lath is chaired by Neil Johnson, who is additionally a affiliate of Mr Thomas’s accomplishment committee.

Chief controlling Mr Betts additionally attends the affairs about directors’ pay. The anniversary address says he leaves aback his own pay is discussed.

Every year so far, the lath has absitively the aggregation had done so able-bodied that all the controlling admiral should accept their bonuses.

Company achievement is based on measures including ‘excellent chump satisfaction’, ‘leadership’ and ‘financial metrics’ such as advancement the company’s aerial acclaim account with banks.

Value for money for taxpayers is not one of the criteria.

As able-bodied as their abject bacon and bonuses, admiral adore allowances such as clandestine medical insurance, activity assurance, biking allowance and a aggregation car. Motability says it consistently reviews directors’ pay adjoin that of added companies ‘to ensure that it is competitive’.

Nominations for admiral to sit on the accomplishment lath are voted on by Motability’s abounding lath of directors, which includes bristles absolute non-executive admiral who are ‘independent in both appearance and judgement’.

Mr Thomas was in allegation aback £1.7million was agreed for arch controlling Mr Betts and £1million for the above agent Mr Gilman. The role of the accomplishment lath is to adjudge how abundant the firm’s top bodies should be paid. Mr Thomas, 53, is himself paid abandoned a almost bashful bacon of £64,000. He was ahead arch of accumulated accounts at City behemothic KPMG, one of the ‘big four’ accountancy firms.

Despite actuality a alms arrangement for the disabled, Motability has managed to aggregate a ‘spare’ £2.4billion.

Analysis of its accounts shows that an boilerplate of about £200million goes unspent anniversary year.

This surplus has been architecture up for decades, kept in a accident armamentarium declared in the anniversary address as a ‘financial shock absorber’.

The close has argued it needs the banknote to assure it adjoin business risks such as fluctuations in inflation, absorption ante and car prices.

Declan O’Mahony, administrator of the alms that oversees the Motability scheme, said: ‘Holding affluence of £2.4billion is adapted and proportionate. The affluence accept been congenital up from surpluses generated by the arrangement in acceptable times and will assure us from whatever bad times we may encounter.’

Prior to abutting KPMG in 2001, he formed for 15 years for abundance administration close Schroders. On the accountable of directors’ pay, Lord Sterling, the administrator and co–founder of the Motability charity, declared the admiral as ‘one of the finest administration teams I accept anytime appear across’.

He said Mr Betts was ‘one of the best able admiral I accept anytime appear across’ and ‘worth every penny he is paid’.

He said that executives’ pay had abiding bonuses congenital in to incentivise them to run the aggregation well.

He added: ‘Under Mike Betts’s stewardship, you universally get acknowledgment that the arrangement is always bigger than it was a few years ago.’

He said the admiral were all called for their arete and their pay was set by a lath which advised the bazaar to accomplish abiding it was competitive. It was additionally in band with the aggregation accepting a £4.2billion turnover, and the admiral abandoned got their abounding bonuses if they accomplished ‘the accomplished accessible akin of chump account to disabled people’.

He added: ‘Bonuses are not awarded unless objectives accept been met or exceeded; there are no ‘rewards for failure’.’

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